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MPLX LP (MPLX) Gains But Lags Market: What You Should Know
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MPLX LP (MPLX - Free Report) closed at $32.35 in the latest trading session, marking a +1.32% move from the prior day. This change lagged the S&P 500's 1.75% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 7.84%.
Heading into today, shares of the company had lost 6.06% over the past month, lagging the Oils-Energy sector's loss of 3.11% and the S&P 500's loss of 4.4% in that time.
MPLX LP will be looking to display strength as it nears its next earnings release, which is expected to be January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 10.26%. Meanwhile, our latest consensus estimate is calling for revenue of $2.66 billion, down 2.6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.87 per share and revenue of $11.46 billion, which would represent changes of +35.31% and +14.29%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MPLX LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MPLX LP currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 8.26 right now. For comparison, its industry has an average Forward P/E of 13.88, which means MPLX LP is trading at a discount to the group.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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MPLX LP (MPLX) Gains But Lags Market: What You Should Know
MPLX LP (MPLX - Free Report) closed at $32.35 in the latest trading session, marking a +1.32% move from the prior day. This change lagged the S&P 500's 1.75% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 7.84%.
Heading into today, shares of the company had lost 6.06% over the past month, lagging the Oils-Energy sector's loss of 3.11% and the S&P 500's loss of 4.4% in that time.
MPLX LP will be looking to display strength as it nears its next earnings release, which is expected to be January 31, 2023. On that day, MPLX LP is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 10.26%. Meanwhile, our latest consensus estimate is calling for revenue of $2.66 billion, down 2.6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.87 per share and revenue of $11.46 billion, which would represent changes of +35.31% and +14.29%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MPLX LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MPLX LP currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that MPLX LP has a Forward P/E ratio of 8.26 right now. For comparison, its industry has an average Forward P/E of 13.88, which means MPLX LP is trading at a discount to the group.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.